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Kitron: Strategy and targets outlined at Capital Markets Day

(2017-02-16) Kitron ASA today will host a Capital Markets Day to update on the progress towards the company's long-term ambitions.

The company reaffirms the major financial ambitions given at last year's Capital Markets Day, maintaining a goal of annual organic revenue growth of 10 percent, leading to revenue of NOK 3 billion in 2020, combined with an EBIT margin of 7 percent.

"At today's event we will give an update on the operational improvements that have contributed to the strengthened financial results over the past couple of years. We will also expand on the technological trends that will shape our industry going forward, such as automation and robotics," said Peter Nilsson, CEO of Kitron ASA.

Kitron also released its report for the fourth quarter 2016 today. See separate stock exchange notice.

"The fourth quarter results illustrate the long-term progress we outline at the Capital Markets Day and confirms that the improvements over the past couple of years are sustainable," Mr. Nilsson added.

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence/Aerospace, Energy/Telecoms, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 2.1 billion in 2016 and has about 1 350 employees. www.kitron.com

This announcement is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.